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Dealing with Financial Stress

Financial Stress is worry, fear and/or anxiety about your finances. I remember being here before we got our finances on track with a budget. Did you know that financial stress can even cause insomnia, headaches, fatigue and more? Nathan and I had many sleepless nights trying to figure out how to make our finances work. We have enough things to stress over right now, finances should not be one of them.

Here are some tips to take control of your money and get rid of financial stress:

#1: Take Inventory. If you have bills or debts you’ve pushed to the back because you are afraid to deal with them, now is the time to dig them up. While it may be hard to acknowledge these, facing the bills/debt head on is the most helpful thing you can do to get rid of the stress. The unknown is always more scary than the known.

#2: Make a Budget (and stick to it!). I know you hear me say this all the time, and it’s because this is a life changer. Before Nathan and I had a budget we never knew exactly where our money was going, we just knew it was gone! And we were surprised to find that there were some areas of our lives that we thought we weren’t spending much on, but were spending A LOT on (eating out!).

#3: Pay off All your debt. Yes, all your debt! Not having to worry about paying debt each month frees up your mind and your finances! Imagine what your life would be like if you weren’t losing chunks of your pay to credit cards, student loans, car payments, etc. Plus, if you have had debt collectors contacting know that is extremely stressful!

#4: Follow Dave Ramsey’s 7 Baby Steps. When you have a plan, stress goes away. So why not use a plan that has worked for thousands (ten of thousands) of people? As you work through the steps, you’ll feel the stress go away as you move towards financial peace. If you’re unsure what these 7 steps me.

#5: Practice Gratitude. If you want to get rid of stress, you’ve got to do things differently than you have been. This means not having a case of the “want-its” (the urge to buy things just because you want them). I still find it hard to not look at the fancy things people around me have or the awesome vacations they go on and not get a little jealous, but with a focus on financial peace you can learn to be grateful for what you have already. Besides, once you’ve completed the Baby Steps, you’ll have plenty of money for things for yourself and to share with others.

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